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TerryHarmonicTrading
15. Febr. 2017 01:35

CADCHF - Ready for short on ABCD and Deep Gartley completion Short

FX_IDC:CADCHF240
CANADIAN DOLLAR / SWISS FRANCICE

Beschreibung

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Hey guys, just woke up and saw an amazing setup on CADCHF for a short


Pattern identification

1. Deep Gartley completion at 0.7700
2. ABCD completion at 0.7700

Execution

Price has rejected the PRZ zone, I have just entered short at current price of 0.7690.

SL is at 0.7740 and TP is at 0.76.

Almost a 1:2 R:R on this.

Good luck and good trading all!'

On a side note, I am still waiting to short USDCHF just a little bit further north at 1.01.

Bullish on CHF in both cases.

Kommentar

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It has been a long wait but pattern is still intact as long as blue trendline remains unbroken.

Be patient and ride out the profits.

SL and TP still remains the same at 0.7740 and 0.76.

Kommentar

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Time to protect this trade. Shift SL to entry price (0.7690) to make this a risk free trade.

Long wait for a slow moving currency pair, but hope this plays out well and move 40 pips south to hit my profit target.

Trade geschlossen: Ziel wurde erreicht

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Target of 0.7600 is reached and trade is closed with +90 pips profit.

A long wait of 14 days but a worthwhile wait.

Congrats to those who followed this trade idea.
CADCHFdeepgartleyAB=CDterryharmonicHarmonic Patterns
Kommentare
EYEO
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There's a bullish shark
dchua1969
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Hi Terry
Based on harmonic pattern trading methodology, would you have taken partial profit when it hit 0.76235 or wait until it hit your profit target?
This "now you see, now you don't" elusive profit can be quite a roller coaster ride. Any thoughts ?
TerryHarmonicTrading
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@dchua1969, this is the way I have chosen to trade. From my backtesting, I wasted too much profits trying to micro manage my trades and protect my trades all the time. I would have secured more profits if I just kept my SL and targets intact.

The book did say take partial profits off the 38.2, you can choose to follow the book or take the more hands off approach I adopt.
To be honest, it is more difficult to trade like I do.
However, I always believe that less is more.
NickyJane
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very perfect.
Pter
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Thanks for sharing Mr Mario!!!!
Let me know if you reopen your FB,please.
I would like to learn from you.
I need a teacher!!
Have a good day
TerryHarmonicTrading
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@Pter, thanks man. Will keep you guys posted via mail.
jojofang0901
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Very nice trade setup, thank you for sharing your idea. i have similar view on this pair as well.
TerryHarmonicTrading
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@jojofang0901, thanks for sharing. How did you determine your profit target?
jojofang0901
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@TerryHarmonicTrading, Hi, I am targeting the daily chart's 50 EMA and support trendline. Thank you
TerryHarmonicTrading
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@jojofang0901, thanks for sharing!
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